Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 9, 2009, the Compensation Committee of the Board of Directors of U.S. Concrete, Inc. (the “Committee”) approved grants of restricted shares and nonqualified stock options to Messrs. Michael W. Harlan (our President and Chief Executive Officer), Robert D. Hardy (our Executive Vice President and Chief Financial Officer), William T. Albanese (our Vice President of Business Development – Northern California), Thomas J. Albanese (our Executive Vice President of Sales – Bay Area Region) and Terry Green (our Senior Vice President – Operations). All grants of restricted shares and nonqualified stock options are effective as of March 9, 2009 and vest 25% per year over a four-year period. The nonqualified stock options have a strike price equal to the closing sales price of our common stock reported by the Nasdaq Global Select Market on the date of the grant. Mr. Harlan was granted 70,000 shares of restricted stock and 70,000 nonqualified stock options, Mr. Hardy was granted 45,000 shares of restricted stock and 45,000 nonqualified stock options, Mr. William T. Albanese was granted 4,000 shares of restricted stock and 4,000 nonqualified stock options, Mr. Thomas J. Albanese was granted 4,000 shares of restricted stock and 4,000 nonqualified stock options, and Terry Green was granted 26,000 shares of restricted stock and 15,000 nonqualified stock options.
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